Thu.Jan 19, 2023

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Payoneer tees up Webster Bank exec for CFO

Payments Dive

Webster Bank alum Bea Ordonez will take the payments company’s finance reins in March after current CFO Michael Levine steps away from the role

Payments 212
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This week’s podcast episode: How the U.S. Supreme Court will decide the threat to the CFPB’s funding and structure: Part I, with Adam J. White, a renowned expert on Separation of Powers and the Appropriations Clause and a close follower of the Supreme Court

CFPB Monitor

The eyes of the consumer finance world are now on the Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Consumer Financial Services Association Ltd. CFPB.

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Splitit targets tech assets for acquisition

Payments Dive

Splitit isn’t interested in being acquired, but the BNPL provider believes there may be assets ripe for the picking amid consolidation

Payments 212
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Brexit exodus helps drive record number in EU banks paid €1m-plus

TheGuardian

Data shows UK banks losing well-paid staff, as Italy, France and Spain make up 70% of rise in EU top earners A record 1,957 bankers across Europe earned more than €1m (£878,000) last year, according to data that shows the scale at which some of the best-paid jobs in Britain have moved from London to the EU since Brexit.

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Trust the Software! Doc Gen Automation

A detailed look at why automation is the future of loan documentation and how this technology adds value to the attorney relationships, creating a next-generation workflow.

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Billtrust plots growth in B2B

Payments Dive

Although many companies are pulling back spending amid the darker economic climate, new CEO Sunil Rajasekar said the B2B payments firm is not

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More Trending

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Why can’t AI draw realistic human hands?

Dataconomy

The AI drawing hands issue has been going on for so long that it has now become a running joke. If you don’t know yet, spoiler alert: AI can’t draw human hands or feet properly. AIs that can convert words to images appear miraculous.

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Could credit card late fees drop to $10? CFPB looks to rein in late fees

American Banker

Regulation and compliance CFPB Politics and policy

Cards 64
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Texas federal court enforces arbitration agreement and dismisses class action lawsuit filed against fintech company for evading Texas usury limit

CFPB Monitor

A Texas federal court has dismissed a class action lawsuit against Opportunity Financial, LLC (“OppFi”) alleging OppFi violated Texas usury law by charging interest on loans it made through a partnership with a state-chartered bank at rates above the maximum rate permitted by Texas law.

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Bailout or business as usual? Home Loan bank advances to crypto banks spark debate

American Banker

Liquidity Regulation and compliance Politics and policy

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What Lenders Need To Know: Increase of Standardized Loan Rejections

As the CRE market continues to tighten, the rejection of substandard loan documentation is on the rise. Don’t put your loans at risk. Check out the Infographic.

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VA Eliminates HUD/VA Addendum to Uniform Residential Loan Application

CFPB Monitor

In Circular 26-23-03 the U.S. Department of Veterans Affairs (VA) announced the elimination of the HUD/VA Addendum to Uniform Residential Loan Application (VA Form 26-1802a), as well as the Federal Collection Policy Notice (VA Form 26-0503).

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Discover's credit card charge-offs overshadow strong loan growth

American Banker

Earnings Payments

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Fifth Third prioritizes digitization in Q4

BankInovation

Fifth Third Bank saw higher technology-related expenses during the fourth quarter as it continued to invest in “platform modernization,” including the launch of its new cloud-based mobile app, Chief Financial Officer Jamie Leonard said during today’s earnings call.

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Fifth Third forecasts lighter growth in 'slow grind' recession

American Banker

Economic indicators Earnings Commercial banking

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The Lender's Guide to Automating Complex Loans

Providing commercial lenders with key insights into how commercial lenders can automate small-balance, mid-market, and large-cap loan documentation with advanced technology.

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Capital One cuts more than 1,100 tech jobs

BankInovation

Capital One Financial Corp. eliminated hundreds of technology positions this week, the result of the credit-card giant spending years investing in systems meant to improve its efficiency.

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Truist chief touts insurance business, but doesn't strike down sale rumors

American Banker

Earnings M&A Commercial banking

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JPMorgan, IFC lead $27M investment for Colombian fintech

BankInovation

JPMorgan Chase & Co. and International Finance Corp. are leading a $27 million round of investment in KLYM, a data-driven fintech that focuses on providing working capital to small and midsize companies in Latin America.

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Comerica stock jumps as it sees signs of deposit pressures easing

American Banker

Deposits Comerica Bank Earnings Commercial banking

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The New 7 Facts on Housing Interest Rates and What Banks Can Do About It

The CRE multifamily sector has created tremendous momentum that won’t be slowed by interest rate hikes. Check out the facts right here!

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Truist invests in innovation, talent in Q4

BankInovation

Truist Financial increased its non-interest expenses in the fourth quarter of 2022 as minimum wage increased and the bank invested in technology, acquisitions, revenue-generating business and call center staff. The $548 billion bank’s adjusted non-interest expenses grew 8% year over year to $3.4

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Morgan Stanley CEO says his three potential successors are already in place

American Banker

Industry News Career moves Morgan Stanley Succession planning

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Analyzing Block’s growth strategy: How the fintech giant formerly known as Square is evolving beyond payments

CB Insights

Square provides commerce solutions and business software for millions of brands and small businesses. In December 2021, Square changed its corporate name to Block , separating the corporate entity from its subsidiary businesses that it calls its “building blocks.”

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Synovus sees more loan growth but braces for margin pressure

American Banker

Industry News Earnings

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How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

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Unlocking the full potential of automation with smart robotics

Dataconomy

Smart robotics is playing a significant role in the growth of industrial automation. The integration of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things into robots has made them more autonomous, adaptable, and intelligent.

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Wall Street kept hiring throughout 2022 despite expense woes

American Banker

Industry News Compensation

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Popular Foundation supports Bottomless Closet, an NYC non-profit

PopularBank

A New York City organization that empowers women to succeed professionally Established in 1999, Bottomless Closet is one of the organizations that Popular Foundation supports through employee contribution-based grants.

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Yellen urges House Republican leader to raise debt ceiling

American Banker

Treasury Department Politics and policy

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.